Theodore R. McKeldin, Governor .          171

title "Debt-Public", sub-title "Public Securities", sub-heading
"Negotiability of public indebtedness", correcting an error therein
caused by the inadvertent omission of a word in this section as
amended by Chapter 596 of the Acts of 1955.

Whereas, in Chapter 596 of the Acts of 1955 there was an amend-
ment to Section 31 of Article 31 of the Code; and

Whereas, there was an inadvertent omission in the re-enactement
whereby the word "some" was omitted in a reference to "some
special fund"; and

Whereas, it is desirable to re-enact this section in order that this
word again may appear heretofore; now, therefore

Section 1. Be it enacted by the General Assembly of Maryland,
That Section 31 of Article 31 of the Annotated Code of Maryland
(1955 Supplement), title "Debt-Public", sub-title "Public Securi-
ties", sub-heading "Negotiability of public indebtedness", be and it
is hereby repealed and re-enacted, with amendments, to read as
follows:

31. Negotiability of public indebtedness.

In all cases where this State or any county, municipal or public
corporation or other political subdivision thereof, or where any in-
strumentality or agency of said State or of any county, municipal
or public corporation or other political subdivision thereof, shall
have issued and sold or may hereafter issue and sell, pursuant to
proper authority duly granted, securities which, by such authority
or by the resolution or ordinance providing for the same, are issued
subject to a separate indenture or agreement or are limited, as to
the payment of the principal and interest thereof, to the proceeds
of the collection of special assessments, tolls, rents, special taxes,
or other limited sources of revenue, or where such principal and
interest are, by such authority, resolution or ordinance, made pay-
able only from some special fund established for that purpose, or
where such issuer is limited by law in the amount or rate of taxation
which may be levied or imposed for the purpose of paying such
principal and interest, or where provision is made for the registra-
tion of any such securities as to both principal and interest, then,
notwithstanding the provisions of article 13 of this Code, such
securities shall nevertheless pass as negotiable instruments and shall
possess all the attributes thereof, but no more, as are possessed by
securities which any such issuer could or might be authorized to
issue on its full faith and credit, payable to bearer, secured as to
payment of principal and interest by its unlimited taxing power,
provided always that the securities herein referred to shall comply
in all other respects with the provisions of the negotiable instruments
law as the same appears in said article 13.

Sec. 2. And be it further enacted, That this Act shall take effect
June 1, 1956.

Approved March 2, 1956.